by. James Robert Lay
Will 2014 be the year for credit unions to shift their focus to digital?
According to our initial analysis of the 2014 State of Digital Marketing Survey, both credit unions and community banks are beginning to realize the importance of focusing on establishing new business models for success to generate leads for loans and new accounts in a humanized digital economy.
The need to evolve business models derives from the fact that many credit unions continue to operate with traditional models optimized for physical networks, even though consumer buying behaviors are changing thanks to digital.
The following three ideas will help a credit union focus when building digital marketing and lead generation systems in 2014 for future success.
1. Rethink operating models and methods
Even though most credit union CEOs, COOs and CMOs understand the need to evolve, responses to the Digital Marketing Survey shared that many don’t know where to begin as the digital world is changing quickly. They are also having to venture into areas where they have no or limited knowledge, while hoping for quick success and results.continue reading »